Hello Everyone:

I am going to start a new thread about WTO....Please post all the stuff related to World Trade Organization here......also try to share WTO with respect to Pakistan.......

I ll soon post its how it established and when.....as I have a very liltle knowledge about it thats why I started this thread so me and all the people can get benefit from it.......

HOPING FOR A GREAT RESPONSE

For detailed information, kindly log on to this:


http://www.wto.org/english/thewto_e/thewto_e.htm

Hope that helps!

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I don't give anyone a reason to HATE ME. They create their own drama out of PURE JEALOUSY...!!!

World Trade Organization is an international organization designed to supervise and liberalize the international trade ( make room for multinational companies ). It was established in January !, 1995 ; and may be called the revised version of GATT. It is located in Geneva, Switzerland, with 153 states as its members and Pascal Lamy as its D-G.

wto is an offshoot of bretton woods agreement which also resulted in i m f and world bank. the main goal of wto is to facilitate international trade in world. free trade means less trade taxes and no quotas.

this goal is not so simple, because developing countries think that they are not in a position to trade freely with developed countries because

1. since they lack the infrastructure for establishing industries and if somehow they manage to provide that infrastructure then these industries still can not produce their products at low cost as compared to developed countries industries. now if they allow free trade then products from developed countries which are cheap can destroy their industries because no one will purchasethe high cost products of their industries. so to protect their industries they levy tax on imports from developed countries. this is also called infant industry argument. now since wto want to reduce that tax, then developing countries have their own apprehensions.


however it should be noted that even developed countries also do that against products of developing countries.

2. secondly is the issue of intellectual property rights. according to this, any company or individual can patent any thing which is not patented before, then if any other country want to trade in that product then it has to pay some amount to the country or company as a fee. thus for example some country ( i cant remm) had patented basmati rice, which was produced in subcontinent for hundered of years but since it was never patented therefore india and pakistan have to pay its fee if they want to trade it. though however india and pakistan at least in that matter become united and they won their case and basmati patent was withdrawn, however this issue can result in similar cases in future.

developed countries have also their problems;

for example usa and eu provide huge amount of subsidy to their farmers. they provide this subsidy because the agricultural produced by their farmers are much expensive, so to make their prices down in the international market their government purchase it at a higher price and provide it in the international market at a lower prices, so that these products compete with the agri products from third world.

now this is certanly against the rules of the game and third world countries are against it. they demand that govt should have no role in it. thus it is still a very thorny issue in the wto discussions.

here i have just provided a few issues about wto. i tried to make it simple but however it is u ppl who can judge it.

wto was first called GATT means general agreement on tariff and trade. it has some agreements that i will try to post. the agreements on different issues like cotton quality, trade, iso standards.